On January 1, 2008 Goll Corporation issued 4000 of its 10%, $1000 for $4,160,000. These bonds were mature on January 1, 2016. but were callable at 101 any time after December 32, 2011. Interest was payable semiannually on July 1 and January 1. On july1, 2013 goll corporation called all of the bonds and retired them. Bond premium was amortized on a straight line basis. Before income taxes goll corporation gain or loss in 2013 on the early extinguishment of debt was.....$32,000 (4,160,000 - 160,000/20 x11) - ( 4,000,000 x 1.01) = 32000 My question is where are they getting the 20 in the denominator